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Money of the Republic of Texas a Brief History

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Money of the Republic of Texas a Brief History Money of the Republic of Texas A Brief History Today, everybody in the United States Private printers uses the same money. People in New York Today, the U.S. Bureau of Engraving or California use the same and Printing prints all U.S. money in either money as you do in Texas. But Washington D.C. or in Fort Worth, Texas. in 1836 when Texas became an But in the 1830s independent republic, it had no and 40s, private banks and no money. printing companies Back then, cities like Houston printed the money. and Austin created their own For example, the money and individual stores Republic bills known Detail showing the mark of printers Rawdon, Wright, Hatch & Edson. distributed money that could only U.S. dollar bills as “redbacks” were be used at that store. today. printed by Rawdon, Wright, Hatch & Edson in New Orleans. They advertised their name on all No coins, only paper the bills they printed. The Republic would not accept city or store money for taxes, so Texas decided to print its Images on bills own money. This money could only be used Money from the Republic of Texas used to pay taxes or other government debts— images that reflected common classical themes you could not buy like commerce, industry, and agriculture. groceries or clothing Occasionally, the with it. printers included an Because precious image specifically metal like gold and related to Texas, like 1842 bill for 12 1/2 cents. silver was scarce, the the image of Deaf Republic did not produce any coins. Instead, it Smith on the $5 bill. printed bills for amounts like 12½ cents. The printers also included intricate Worthless money designs on the bills Since the Republic had no money and nothing to make it harder for to sell to the United States, Texas currency was Detail from $5 bill. Portrait of counterfeiters to copy Deaf Smith, a captain during them. often worthless both inside the Republic and the Texas Revolution. out of it. For Signed by hand example, a $1 bill might Finally, each bill was only be worth hand-signed by the two cents! president and treasurer Government of Texas, making the bill employees legal to use. were paid in Republic currency, but while they Signature of Mirabeau B. Lamar, president of the might get paid Republic of Texas. Back of $5 bill. Because of the red printing, these bills were called $100, they “redbacks”. could only trade it for $2 worth of goods. Image of 12 1/2 cent note from Criswell’s Currency Series, vol. 1, by Grover C. Criswell Jr. Image of dollar bills from Microsoft Office Online. All other images courtesy of Special Collections Division, the University of Texas at Arlington Libraries, Arlington, Texas. Information for this flyer came from the Handbook of Texas Online, s.v. “MONEY OF THE REPUBLIC OF TEXAS,” http://www.tsha. utexas.edu/handbook/online/articles/MM/mpmzv.html (accessed May 5, 2005). Ornamental designs let the engravers Decorative image of unknown show off their work. Ornaments Native American. Engravers used made the bill more attractive and images like this to imply strong and discouraged counterfeiters. adventurous qualities about Texas. Portrait of Erastus (Deaf) Smith, Identification number of the bill. who served as a captain during the Texas Revolution. Geometric lathework Seal of the Republic of Texas. Signature of the President of the patterns make it harder for Republic. This note was signed by counterfeiters to copy the bill. Mirabeau B. Lamar. Printer’s mark, naming the company that printed the bill. © 2005 .
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